Lenovo has been named as the number one Chinese global brand builder by WPP-owned Kantar Millward Brown’s report BrandZ.
The research, carried out alongside Google, aims to establish which Chinese brands are the most powerful in international markets. Lenovo topped the report of 30 brands, followed by Huawai and Alibaba.
The results will be welcomed by Lenovo, as the consumer tech brand’s senior VP and CMO David Roman recently told The Drum that it was spending significant efforts translating to global markets what Lenovo stood for, outside of its heritage of innovation and technology.
Consumer electronics brands took up 40% of the brands included in the final report and dominate the top five. Also featured in the top five was mobile gaming company Elex Tech and consumer electronics brand Xaiomi.
Doreen Wang, head of BrandZ at Kantar Millward Brown, said the report showed four trends: that negative perceptions of Chinese brands were slowing, that consumer electronics brands were closing the awareness gap by communicating their value, that Chinese brands moved faster than western brands, and that there was a huge opportunity for internet-driven brands.
“The rules are changing for brands. Whereas established brands have shown slow grown internationally over time – sometimes growing through mergers and acquisitions – the newer internet-driven brands are typically growing organically. Brands today are able to use the internet to give them global reach, leveraging their brand equity as a global identity and passport. The expansion of a brand is now no longer defined by the limits of its category, but by the possibilities of technology. So there is no longer a need to wait to be a domestic giant before going global. Start your brand intending to go global, and anticipate the necessary business infrastructure,” she said.
Other brands on the list were Air China, Cheetah Mobile and Anker and Haier. The full list has been published in a report on the BrandZ website.